Apple and Klarna Join Forces to Launch ‘Apple Upgrade’ Leasing Program
Apple is poised to revolutionize consumer purchasing habits with the launch of the “Apple Upgrade” device leasing program, set to debut on July 28, 2026, as reported by Bloomberg. This program, financially backed by Swedish buy-now-pay-later titan Klarna, is being hailed as one of the most significant shifts in Apple’s sales strategy to date.
The Apple Upgrade program will encompass most iPhone, Mac, iPad, and Apple Watch models, operating in a manner akin to a car lease. Customers will have the option to spread payments over 24 months for iPhones and Apple Watches, or 36 months for Macs and iPads. Upon lease completion, users can choose to keep the device, return it, upgrade to a newer model, or pay it off early. A soft credit check will be required for enrollment, and the program will be accessible via Apple’s retail stores and online store in the US.
The launch of this program is timely. Apple recently increased prices on Macs and iPads due to a global memory chip shortage, driven by skyrocketing demand from AI data centers. With the iPhone 18 lineup set to be unveiled in September and device prices on the rise — the iPhone 17 Pro Max already starts at a hefty $1,199 — the Apple Upgrade program provides consumers with a more affordable way to access premium hardware. By transferring the credit risk to Klarna, Apple can maintain sales momentum without carrying the loan book, just in time for its biggest product season.